Aspiring owners can access these websites to learn the lexicon, find out about relevant legal issues and determine how to gauge the right fit.
The wealth of online information can overwhelm potential franchisees.
Fortunately, a handful of sites consolidate that knowledge into accessible bits for would-be business owners.
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From a glossary to free downloads about legal concerns, the following websites offer in-depth information to help people navigate the franchise world.
- The International Franchise Association is the world's oldest and largest organization representing the field. The website includes “Franchising 101,” which covers evaluating a franchise, navigating the paper trail and understanding common terms. The IFA is also active in government relations and advocacy.
- The American Association of Franchisees and Dealers educates people considering the franchise route to self-employment. Their “Roadmap to Selecting a Franchise” boasts checklists and questions for assessing opportunities, building a team and seeking financial support. The AAFD also mentions the risks and consequences of franchising.
- The Small Business Administration’s Office of Entrepreneurship Education shares crucial points about personal and professional goals, personalities and possible legal issues that may be on record. The website also discusses capital, geography and markets and licensing fees typically associated with franchise models.
- com is another excellent resource for would-be franchise owners. The online magazine dedicates several pages to franchising each month. Also, it offers free downloadable resources (without requiring an email address) that cover disclosure documents, common terms in commercial leases and more.
- The Dwyer Group’s website has an overview of the franchise industry. It emphasizes home services and the benefits that come with following a proven and credible system.
In the end, taking time to evaluate opportunities that align with professional and family goals is imperative before buying a franchise.